retail 3rdyear

retail channeL

l is the way a retailer sells and delivers merchandise and services to its customers. The most common channel used by retailers is a store. Retailers also use a variety of non store channels including the following channels:

internet retailing

, also called online retailing, electronic retailing and e-tailing is a retail channel in which the offering of products and services for sale is communicated to customers  over the internet.

Broader and Deeper Assortments

   One benefit of the Internet channel, compared with the other channels, is the vast number of alternatives that consumers can consider. The number of SKU’s available in a store is limited by the store’s size.

More timely Information for Evaluating Merchandise

         An important service offered to customers is providing information that helps them make better buying decisions. The amount of information available through the store channel is limited by the number of sales associates and the space for signage.

Personalization

       Due to Web’s interactive nature, the most significant potential benefit of the internet channel is its ability to personalize merchandise offerings and information for each customer economically.

Catalog channel

 It is a non store retail channel in which the retail offering is communicated to customers through a catalog mailed to customers.

   It is a list of goods or services on sale with their description and prices published as a printed document, or as an electronic document (e-catalog).

brochure

 is a short, printed document, also known as a pamphlet. It is a booklet containing descriptive or advertising material.

catalog

is a document or a book containing an itemized list of name, goods, or books.

 

 Direct selling

refers to selling products directly to the consumer in a non-retail environment. Instead, sales occur at home, work, online, or other non-store locations.

   

Retail Selling

   In retail selling, the salesperson communicates directly with individual customers. He/she sells product to the consumers through retail store or door to door visit. The sales person, selling goods and services from the retail store, deal with the customers visiting the sorters. In door to door selling, the sales person visits door to door to search potential customers and persuade them to buy the product.

business-to-business selling

, the salesperson sells products to industrial buyers. It involves the sales of equipment, plants & machineries etc. to the industrial buyer. The industrial sales person should be well trained and good technical knowledge about the products he/she sells.

trade selling

, the salesperson sells products to marketing intermediaries such as retailers and wholesalers. Trade sales person should contact regularly with the wholesaler and retailers to receive bulk order from them.

Direct mail

is posted mail that advertises your business and its products and services. Direct mail campaigns are usually sent to all postal customers in an area or to all customers on a marketing list. Learn more about direct mail.

 

 

Telemarketing

involves contacting potential customers over the phone to sell products or services. It is capable of generating new customer prospects in large volumes and is also a useful tool for following up on direct marketing campaigns

Email marketing

is a simple, cost-effective and measurable way of reaching your customers. It can include e-newsletters, promotional emails to generate new leads or offers for existing customers, or ads that can appear in other businesses' emails. Learn more about email marketing.

Text sms marketing

allows businesses to reach individual customers and send messages to large groups of people at a low cost. You could use short message service (SMS) messaging to send customers sales alerts, links to website updates, appointment or delivery reminders, or personalised messaging. Find out about text (SMS) marketing.

 

Social media marketing

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   Social media can be used effectively as a marketing tool for business as it gives you the opportunity to interact directly with your customers and regularly share relevant product or service information. Social media platforms also make it very easy for your customers to share your content with their entire network, increasing your reach exponentially.

TELEVISION HOME SHOPPING

   It is a retail channel in which customers watch a television program that demonstrates merchandise and then place orders for that merchandise, usually by the telephone or via the internet.

Cable channels

– dedicated to television shopping

Informercials

– are programs, typically 30 to 60 minutes long, that mix  entertainment with product demonstrations and then solicit orders placed by telephone

Direct-response

– consists of one to two minute advertisements on television that describe products and provide an opportunity for consumers to order them.  

AUTOMATED RETAILING

   It is a retail channel in which merchandise or services are stored in a machine and dispensed to customers when they deposit cash or use a credit card.

   Automated retail machines, also known as vending machines, are typically placed at convenient, high traffic locations, such as in work places or on university campuses.

STORE CHANNEL

   Store offers several benefits to customers that they cannot get when they shop through non-store channel such as catalogs or internet

Touching and feeling products

       Perhaps the greatest benefit offered by stores is the opportunity for customers to use all five senses – touching, smelling, tasting, seeing and hearing when examining and evaluating products.

Personal service

   Although consumers are often critical of the personal service they get in stores, sales associates still have the unique ability to provide meaningful, personalized informatio

Risk Reduction

   The opportunity to use five senses when evaluating products and get personalized information increases the likelihood that consumers will be satisfied with their purchases. In addition, the physical presence of the store reduces perceived risk and increases customer’s confidence that any problems with a purchase will be corrected

•Immediate Gratification

   Customers can get the merchandise immediately after they buy it from stores and they don’t need to wait for a days or week to get the merchandise.

Entertainment and Social Experience

   In store shopping can be a stimulating experience for some people, providing a break in their daily routine and enabling them to interact with friends.

Browsing

   Shoppers often have only a general sense of what they want but don’t know the specific item that they want. So they go to a store to see what is available before they decide what to buy.

Cash Payment

   Stores are the only channel through which consumers can make cash payments. Some customers prefer to pay cash because it is quicker, resolves the transaction immediately and does not result in potential interest payments or excessive debt.